Turkish exports up 3.5% YoY to $19.991 bn in Jan; imports fall 22%

Foreign trade deficit in the month was worth $6.227 billion—a 56.4 per cent YoY decrease.

Exports, excluding energy products and non-monetary gold, were worth $18.592 billion during the month—a 3 per cent YoY increase; such imports were worth $18.66 billion—a 6.2 per cent YoY drop.

The country’s foreign trade volume was worth $37.251 billion­ in the month—a 1.8 per cent decrease, Turkstat said in a release.

The main partner country for exports in the month was Germany, with exports worth $1.762 billion. It was followed by the United States ($1.224 billion), Iraq ($1.97 billion), the United Kingdom ($1.22 billion) and Italy ($999 million). The share of exports to the first five countries in Turkiye’s total exports was 30.5 per cent in the month.

The top country for Turkiye's imports in the month was Russia, with imports worth $4.324 billion. It was followed by China ($2.893 billion), Germany ($1.918 billion), the United States ($1.402 billion) and Italy ($1.187 billion). The share of imports from the first five countries in total monthly imports was 44.7 per cent.

In January, seasonally- and calendar-adjusted exports and imports decreased by 5.1 per cent and 4.8 per cent respectively month on month, while calendar-adjusted exports increased by 0.4 per cent YoY and such imports decreased by 23.6 per cent YoY.

The ratio of products in manufacturing industries in total imports was 75.3 per cent in the month.

Fibre2Fashion News Desk (DS)